Henry Schein Completes Divestiture of Muller & Weygandt for EUR 50 Million
MELVILLE, N.Y.--(BUSINESS WIRE)--July 20, 2004--Henry Schein, Inc. (Nasdaq:HSIC), the largest provider of healthcare products and services to office-based practitioners in the combined North American and European markets, today announced that it has completed the divestiture of DentalMV GmbH ("Muller & Weygandt"), as required by German regulatory authorities.
The Muller & Weygandt operations were sold for EUR 50 million, including assumption of certain liabilities. As part of the Company's agreement with the German regulatory authorities clearing the Company's acquisition of demedis GmbH and Euro Dental Holding GmbH ("the demedis Group") as announced on June 16, 2004, Henry Schein committed to divest Muller & Weygandt, a direct marketing distributor of consumable dental supplies with net sales of approximately EUR 70 million, for the fiscal year ended September 30, 2003.
About Henry Schein
Henry Schein, a Fortune 500(R) company, is recognized for its excellent customer service and highly competitive prices. The Company's four business groups--Dental, Medical, International and Technology--serve more than 450,000 customers worldwide, including dental practices and laboratories, physician practices and veterinary clinics, as well as government and other institutions. The Company's sales reached a record $3.4 billion in 2003. The Company operates through a centralized and automated distribution network, which provides customers in more than 125 countries with a comprehensive selection of over 90,000 national and Henry Schein private-brand products.
Henry Schein also offers a wide range of innovative value-added practice solutions, including such leading practice management software systems as DENTRIX(R) and Easy Dental(R) for dental practices, and AVImark(R) for veterinary clinics, which are installed in over 50,000 practices; and ArubA(R), Henry Schein's electronic catalog and ordering system.
Headquartered in Melville, N.Y., Henry Schein employs more than 9,000 people in 18 countries. For more information, visit the Henry Schein Web site at www.henryschein.com
Certain information contained herein includes information that is forward-looking. The matters referred to in forward-looking statements may be affected by the risks and uncertainties involved in the Company's business. These forward-looking statements are qualified in their entirety by the cautionary statements contained in the Company's Securities and Exchange Commission filings.
CONTACT: Henry Schein, Inc.
Steven Paladino, 631-843-5500
stepal@henryschein.com
or
Susan Vassallo, 631-843-5562
svassa@henryschein.com
SOURCE: Henry Schein, Inc.